SET Extends Gains, as Banking-Energy Shares Rally

Thai market extended gains in Tuesday’s afternoon session as a rally in big-cap shares continued.

As of 15.15 hrs. local time in Thailand, the SET Index jumped 13.47 points, or 0.85%, to 1,593.67, with a total trading volume of THB39,331 million. 


According to Finansia Syrus Securities, the early-afternoon rally in Thai stocks was in line with other regional bourses and soaring Dow Jones futures. However, it was considered as a short-term bounce following a sharp decline in previous sessions, despite investors ignoring fears of a US economic recession as some Fed committees asserted that the US economy will not reach such a level. 

Consequently, there is a short-term buying, notably in big-cap equities such as those in the banking and energy sectors.